Dubai: Ajman’s GDP grew by 4.6 per cent during 2013, while inflation for the year stood at 1.26 per cent, according to a report released on Wednesday by the emirate’s Department of Economic Development.
The 2014 Annual Economic Report showed manufacturing accounted for 35 per cent of GDP, construction 15 per cent, wholesale, retail and repairs 13 per cent, and real estate and business services 11 per cent.
The value of Ajman’s exports grew from Dh1.097 billion in 2011 to Dh3.073 billion — an annual growth rate of 67 per cent. Chemicals accounted for 61 per cent of exports in 2013, with fabricated metal and equipment at 13 per cent and non-metallic minerals at 7 per cent.
New business registrations rose by 26 per cent to reach 24,525 licences in 2013.
Ali Eisa Al Nuaimi, director-general of the Department of Economic Development, said, “As the economy of Ajman continues to grow, our report is a not just a key indicator for existing and new business, but also to other government departments who are also focused on developing the prosperity of Ajman, and the UAE as a whole.”
Figures for the first nine months of 2014 showed inflation had increased to 2.39 per cent, with the education services sector having the highest rate at 6.2 per cent and housing while power and water had the lowest at 0.06 per cent.
